The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Citigroup Inc. (C)

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Summary:
Weekly :Trend support at 41.92
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldMACD bullish divergenceThe period of low volatility of the stock price
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It was the negative week for the Citigroup Inc. (C). During the week, the C dropped -1.11 points, or -2.43%, and closed at 44.60 on Friday, May 26, 2023. Weekly volume was -13% below average.

Long-term trend: [See C long-term trend chart]
A long-term downtrend had started on January 14, 2020 at 83.11 and reached 32.00 on March 18, 2020. C lost 51.11 points, or 61.50%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend support (41.92) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See C medium-term trend chart]
A medium-term downtrend had started on June 2, 2021 at 80.29 and reached 40.01 on October 13, 2022. C lost 40.28 points, or 50.17%, in 71 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 26.95 and resistance is at 48.19. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See C weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since March 17, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See C short-term trend chart]
A short-term downtrend had started on April 19, 2023 at 50.45 and reached 43.88 on May 25, 2023. C lost 6.57 points, or 13.02%, in 36 days. The price is now at the 10.96% retracement level.

Daily Technical Indicators: [See C daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since May 18, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is falling, and it was 7.09% on Friday. It is 51.01% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.03
Williams' Percentage Range (W%R) 87.10
Oversold
Lane's Stochastic (%D-Slow) 23.58
Greed/Fear Indicator (GFI) 25.17
Moving Average Converg./Diverg. (MACD) -0.46 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.20
Williams' Percentage Range (W%R) 78.20
Lane's Stochastic (%D-Slow) 43.94
Greed/Fear Indicator (GFI) 36.07
Moving Average Converg./Diverg. (MACD) -0.45
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 48.19
Upper Bollinger Band 47.47
Parabolic System 46.97
Weekly Stochastic Crossing 46.61
50 Day Moving Average 46.35
20 Day Moving Average 45.82
Price 44.60
Daily Stochastic Crossing 44.56
Lower Bollinger Band 44.31
Yearly Trendline Support 41.92
Sector and Industry
Description Name Rank
Sector Financials 4
Industry Diversified Banks 45
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 50.45
High Date 04/19/2023
Low 43.88
Low Date 05/25/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 53.23
High Date 02/02/2023
Low 42.01
Low Date 03/24/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 40.01
Low Date 10/13/2022
High 53.23
High Date 02/02/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 48.19
Support 26.95
High 80.29
High Date 06/02/2021
Low 40.01
Low Date 10/13/2022
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Support
Resistance 76.24
Support 41.92
High 83.11
High Date 01/14/2020
Low 32.00
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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